Just to be clear, 122 random bits are just fine as a security measure depending on what you want to do. For example, if I have 1 URL and I'm trying to prevent someone from guessing it.
How you choose to encode the bits doesn't affect the security; if you use UUID form it's just as secure as if you use Base64. Regardless, if I had my 122 random bits, you would require 2^121 guesses to have a 50% chance of guessing it.
How you choose to encode the bits doesn't affect the security; if you use UUID form it's just as secure as if you use Base64. Regardless, if I had my 122 random bits, you would require 2^121 guesses to have a 50% chance of guessing it.
Edit: this is in the non-quantum case cf. https://en.m.wikipedia.org/wiki/Grover%27s_algorithm
Edit 2: (3:32 ET) done editing